Withdrawal of the Elgar £20 Note – 30 June 2010

The Bank is withdrawing from circulation the “Edward Elgar” £20 note from circulation on 30 June, leaving only the “Adam Smith” £20.  Retailers and other businesses which receive cash can help the process by banking Elgar £20 notes with takings and just giving out the Smith notes when giving change.

For several months after the end of June most banks, building societies and Post Offices will accept the Elgar £20 notes for deposit to customer accounts and for other customer transactions. However, agreeing to exchange notes is at the discretion of the individual institution.

The Bank of England will always exchange its old notes. Notes may be presented for payment either in person or sent by post (at the sender’s risk) to: Dept NEX, Bank of England, Threadneedle Street, London EC2R 8AH.

For further information
Tel: 020 7601 4878
enquiries@bankofengland.co.uk

The Bank of England has been issuing banknotes for over 300 years. During that time, both the notes themselves and their role in society have undergone continual change. From today’s perspective, it is easy to accept that a piece of paper that costs a few pence to produce is worth five, ten, twenty or fifty pounds. Gaining and maintaining public confidence in the currency is a key role of the Bank of England and one which is essential to the proper functioning of the economy.